General Notes

Question 1

Can Settlor REVOKE TRUST

Answer 1

NO, UNLESS SETTLOR RESERVED THE RIGHT TO DO SO.

BUT UNDER UTC, CAN REVOKE UNLESS IT EXPRESSLY STATES NO

Question 2

STATUTE OF FRAUD

Answer 2

CONTRACT THAT CANNOT BE COMPLETED WITHIN 1 Y EAR

Question 3

ARTICLE 2

Answer 3

SALE OF GOODS, DOES REQUIRE WRITING UNLESS WAIVED.

Question 4

NON COMPETE AGREEMENTS

Answer 4

MUST BE REASONABLE IN TIME, LOCATION, ETC.

Question 5

MISREPRESENTATION

Answer 5

FACT
BY ONE PARTY
FALSE FACT
INDUCES K
IN THIS INSTANCE LOOK FOR NO K

Question 6

CAN GET OUT OF DEAL WITH MISREPRESENTATION

Answer 6

IF FACT IS FALSE

DOESN’T MAKE A DIFFERENCE IF INTENTIONAL OR NOT INTENTIONAL, END RESULT IS YOU CAN GET OUT OF A K

Question 7

MISTAKES DO NOT MATTER

Answer 7

MISTAKES DO NOT MATTER; IT IS STILL A CONTRACT

Question 8

MISTAKES VS MISREPRESENTATION?

Answer 8

NO K WITH MISREPRESENTATION

VALID K WITH MISTAKE

Question 9

GETTING OUT OF A K BECAUSE OF MISTAKE

Answer 9

PERSON TRYING TO GET OUT OF K DUE TO MISTAKE BEARS THE RISK OF THEIR OWN MISTAKE

Question 10

PAROL EVIDENCE

Answer 10

CHANGE OR CONTRACT TERMS IT CANNOT BE USED
CLERICAL MISTAKE -CAN CONSIDER PAOL
TO GET OUT OF A DEAL? YES CAN USE
AMBIGUITY - PAROL IS ALWAYS ADMISSIBLE WHEN K IS AMBIGUOUS.

Question 11

CONDUCT MATTERS

Answer 11

CONDUCT MATTERS IN THE COURSE OF PERFORMANCE, COURSE OF DEALING AND CUSTOM AND USAGE

Question 12

SHIPMENT K

Answer 12

ONCE YOU GET GOODS TO A COMMON CARRIER OR MAKE ARRANGEMENTS FOR DELIVERY AND NOTIFY BUYER, RISK SHIFTS TO BUYER
WATCH OUT FOR FOB (FREIGHT ON BOARD) WHERE THE DESTINATION IS SPECIFIED BECAUSE THAT TELLS YOU WHEN RISK SHIFTS.

Question 13

SHIPMENT K

Answer 13

IF FOB WITH CITY:
IF CITY IS SAME AS SELLERS, THEN SHIPMENT K
IF CITY IS ELSEWHERE, IT IS A DESTINATION K

Question 14

PERFORMANCE

Answer 14

PERFECT TENDER
REJECTION OF GOODS
CURE - SELLER HAS OPTION TO CURE EVEN IF POST DELIVERY –IF THTA IS REASONABLE–
THINK ABOUT WHETHER SOMEONE THOUGHT IT WOULD BE OK TO CURE.
LOOK AT THE PAST THE PRIOR OR PREVIOUS TRANSACTIONS

Question 15

ACCEPTANCE OF GOODS

Answer 15

ACCEPTANCE AVENUE OR REJECTION ROAD
PAYMENT WITHOUT INSPECTION DOES NOT EQUAL ACCEPTANCE
FAIL TO REJECT (YOU KEEP GOODS) DOES EQUAL ACCEPTANCE
THINK TIMELY
IF YOU KEEP THE GOODS, IT IS IMPLIED ACCEPTANCE

Question 16

REMEDIES

Answer 16

USUALLY $$ IS A REMEDY, BUT SOMETIMES
SPECIFIC PERFORMANCE CAN BE BUT IT IS NOT ALWAYS AN OPTION.
SOMETIMES COURTS ARE RELUCTANT TO ORDER SPECIFIC PERFORMANCE BECAUSE OF HISTORICAL ORIGINS OR THERE IS A PROBLEM WITH JUDICIAL ADMINISTRATION (HOW DOES COURT KNOW WHEN ONE COMPLIES)

Question 17

RECLAMATION

Answer 17

REQUIRES:

1. BUYER INSOLVENT WHEN RECEIVED
2. SELLER DEMAND RETURN WITHIN 10 DAYS OF DELIVER / RECEIPT
3. BUYER STILL HAS THE GOODS

Question 18

ENTRUSTMENT

Answer 18

YOU TAKE AN ITEM TO BE STORED, CLEANED OR REPAIRED.
THINK OF TAKING A WATCH FOR REPAIR
IF THE JEWELER SELLS YOUR WATCH, CAN YOU RECOVER?
SURPRISINGLY NO.

Question 19

DAMAGES $$

Answer 19

COMPENSATION
EXPECTATION
ATTEMPT TO MAKE THE PLAINTIFF WHOLE
BOTTOM LINE WE EXPECT NO BREACH!  
FORMULA IS:
VALUE WITHOUT THE BREACH, LESS
VALUE WITH THE BREACH

Question 20

MONEY DAMAGES

Answer 20

ARE TO COMPENSATE, NOT PUNISH THE DEF.

ALWAYS INCLUDE THE EXPECTED PROFIT AND THE COSTS

Question 21

CHARITABLE TRUSTS

Answer 21

RELIGIOUS, MEDICINE, SCIENCE, GOVERNMENT, RESEARCH, EDUCATION

Question 22

CHARITABLE TRUST

Answer 22

NO ASCERTAINABLE BENEFICIARIES
NO RULES AGAINST PERPETUITIES
CY PRES DOCTRINE (CAN USE FOR SIMILAR PURPOSE IF ORIGINAL PURPOSE IS NOT AN OPTION)

Question 23

PRIVATE TRUST

Answer 23

ASCERTAINABLE BENEFICIARIES

RULE AGAINST PERPETUITIES?

Question 24

TRUST ADMINISTRATION

Answer 24

NO SELF DEALING
NO BUY/SELL ASSETS TO SELF
CANNOT BORROW MONEY FROM THE TRUST
CAN'T MOVE MONEY BETWEEN THE TRUST
FOLLOW PRUDENT INVESTOR STANDARD
NO DISTRIBUTION TO SELF
NO PERSONAL GAIN

Question 25

CY PRES

Answer 25

AS NEAR AS POSSIBLE TO ORIGINAL PURPOSE IF MONEY GIVEN FOR POLIO RESEARCH, BUT POLIO CURED, CAN IT BE REASSIGNED FOR ANOTHER DEADLY ILLNESS. YES. LOOK AT WHAT THE ORIGINAL PURPOSE OF TRUST WAS

Question 26

PRUDENT INVESTOR STANDARD

Answer 26

``` DUTY TO NOT COMINGLE FUNDS BALANCE RETURN WITH THE RISK DIVERSITY INVESTMENTS KEEP TRUST PRODUCTIVE EARN A REASONABLE RETURN ```

Question 27

TRUST TERMS TO REMEMBER

Answer 27

SETTLOR REMAINDERMEN - ASSETS WHEN THE TRUST ENDS BENEFICIARIES - GET INCOME FROM THE TRUST TRUSTEE - RUNS THE TRUST CORPUS - ASSETS OF THE TRUST REMEMBER INCOME VS CORPUS AND INCOME VS PRINCIPAL

Question 28

FLORIDA ALL TRUSTS ARE REVOCABLE UNLESS?

Answer 28

REVOCABLE UNLESS THE TERMS STATE IT IS IRREVOCABLE. CAN LAST 360 YERAS NO RULE AGAINST PERPETUITY

Question 29

RESULTING TRUST

Answer 29

FAILURE OF EXPRESS TRUST PURPOSE WAS ACCOMPLISHED MONEY IS STILL LEFT IN THE TRUST MONEY GOES BACK TO SETTLOR OR SETTLOR'S ESTATE

Question 30

STATUTE OF FRAUDS

Answer 30

$500 OR MORE ONLY REQUIRED SIGNATURE IS DEFENDANTS PROPERTY MUST BE IN WRITING

Question 31

STATUTE OF FRAUDS

Answer 31

WRITTEN PROOF OF AUTHORITY - NOT ONLY AGENCY | BUT THIS IS ONLY WHEN K FALLS WITHIN THE SOF

Question 32

SOF WITH LEASE

Answer 32

ONE YEAR LEASE DOES NOT FALL WITHIN STATUTE OF FRAUDS, BUT A 3 YEAR LEASE REQUIRES A WRITING SO YOU DO NOT NEED WRITTEN EVIDENCE OF AUTHORITY TO SIGN FOR SOMEONE ELSE.

Question 33

CHARITABLE TRUSTS

Answer 33

DO NOT FALL UNDER RULE AGAINST PERPETUITY

Question 34

CAUSATION IN A PRIMA FACIE CASE

Answer 34

FACTUAL - BUT, FOR CASE AS IN BUT FOR THE DEFENDANT'S ACT PROXIMATE CAUSE

Question 35

LEASE ASSIGNMENTS

Answer 35

DO NOT RELEASE ORIGINAL PERSON FROM AN OBLIGATION

Question 36

WHEN PROPERTY IS TAKEN SUBJECT TO A MORTGAGE

Answer 36

MORTGAGEE CAN GO AFTER ORIGINAL AND THE GRANTEE FOR DEFICIENCY SO YOU SELL PROPERTY SUBJECT TO MORTGAGE, YOU MIGHT STILL BE ON THE HOOK FOR PAYMENT!

Question 37

PRESCRIPTIVE EASEMENT

Answer 37

``` OPEN NOTORIOUS ADVERSE CONTINUOUS FOR STATUTORY PERIOD ```

Question 38

AUTHENTICATION

Answer 38

WRITINGS MUST BE AUTHENTICATED FOUNDATION MUST BE LAID TESTIMONIAL FOUNDATION NEEDED

Question 39

MOTION FOR NEW TRIAL OR | BELATED DIRECTED VERDICT

Answer 39

CAN DO AT END OF TRIAL | IT'S ON PAGE 41 IN CIV PRO HANDOUT

Question 40

ARMADILLOS FROM TEXAS PLAY RAP EATING TACOS

Answer 40

``` APPLICABLE LAW FORMATION OF CONTRACT TERMS PERFORMANCE REMEDIES FOR NON-PERFORMANCE EXCUSE OF NON PERFORMANCE THIRD PARTY PROBLEMS ```

Question 41

UNILATERAL CONTRACTS

Answer 41

REQUIRES PERFORMANCE FOR ACCEPTANCE

Question 42

BILATERAL

Answer 42

ALL K THAT ARE NOT UNILATERAL | ALMOST ALL CONTRACTS ARE BILATERAL

Question 43

ARTICLE 2

Answer 43

``` SALE OF ANY GOODS LEASES OF GOODS NOT REAL ESTATE NOT PROPERTY MOST IMPORTANT PART OF THE TRANSACTION ```

Question 44

PRICE IN CONTRACTS

Answer 44

COMMON LAW THERE IS NO CONTRACT WITHOUT PRICE. PRICE IS REQUIRED ARTICLE 2 SALE OF GOODS, NO PRICE IS REQUIRED

Question 45

VAGUE AND AMBIGUOUS IN K

Answer 45

NO OFFER IF IT SAYS REASONABLE PRICE OR FAIR OR APPROPRIATE COMPENSATION. MUST BE SPECIFIC

Question 46

OPTION

Answer 46

PROMISE NOT TO REVOKE | PROMISE IS SUPPORTED BY PAYMENT OR A PROMISE TO PAY OR SOME CONSIDERATION

Question 47

TERMINATION OF K

Answer 47

1. TIME LAPSE (RELATED TO ACCEPTANCE) 2. DEATH BEFORE ACCEPTANCE 3. WORDS AND OR CONDUCT TO REVOKE AMBIGUOUS OR UNAMBIGUOUS

Question 48

RELIANCE ON K

Answer 48

CANNOT REVOKE IF 1. RELIANCE 2. REASONABLY FORSEEABLE 3. DETRIMENTAL

Question 49

2-207 UCC

Answer 49

ADDITIONAL TERMS ARE NOT A REJECTION UNDER 2-207 THINK ABOUT NEW ARBITRATION CLAUSE - IT IS NOT A REJECTION TO ADD THIS THE NEW TERMS ARE NOT ADDED TO THE K UNLESS BOTH PARTIES ARE MERCHANTS AND THE TERM IS MATERIAL TO THE K

Question 50

ASSIGNING OFFERS?

Answer 50

OFFERS CANNOT BE REASSIGNED BUT OPTIONS CAN BE ASSIGNED